Prudential appoints new chief in London

Michael Berry has been named as head of the asset manager’s London office.

Prudential Capital Group, the asset manager of New York Stock Exchange (NYSE)-listed insurer Prudential Financial, has named Michael Berry as head of its London office.

Berry will report to Marie Fioramonti, managing director and head of Pricoa Capital Group, the non-US business of Prudential. Also named as a managing director, Berry’s appointment will be effective immediately.

Pricoa has provided private placements and mezzanine financing in the UK and Europe for more than 30 years.

Fioramonti said in a statement: “Michael is a welcome addition whose relationship-oriented approach is key as Prudential Capital Group continues to provide tailored financing for middle-market companies looking for alternative sources of capital to fund growth over the long term. [His] deep experience in leveraged finance will help Prudential Capital Group as it continues to expand its risk investment platform.”

Berry has more than 30 years’ experience in finance, having set up and led leveraged teams at three major banks. Previously, he was managing director and head of specialised finance at Nomura International. Prior to that, he was head of leveraged finance at WestLB and filled various roles at Deutsche Bank / Morgan Grenfell. In addition, he founded Versatus Advisers, which was bought by Oriel Securities.

Prudential Capital manages a portfolio of $68.1 billion as at 30 June 2014 and offers senior debt and mezzanine capital, leveraged leases, credit tenant leases and equipment financing to companies.